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Philadelphia Multifamily

Chestnut Hill Sells Again

The 228-unit Chestnut Hill Tower at 7600 Stenton Ave traded hands again, the Philadelphia Business Journal reports, with Eagle Rock Advisors of NY taking it from Premier Properties of Lakewood, NJ, for $24.5M. Back in 2012, we reported that the property traded for just under $17M; not bad for a hold of a little more than two years. Gebroe-Hammer Associates' Joseph Brecher told us then that both local and out-of-towners were hot for Philly multifamily, and it looks like that's still the case.

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